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Philadelphia Offering Up To $10,000 For First-Time Home Buyers

This means if you want to buy a $200,000 house, for example, closing costs could tack on an extra $10,000 in addition to a 10 or 20 percent downpayment. (There are loans available for first-time homebuyers that could bring your downpayment down to as little as 3 percent.) That’s why a mortgage lender can do all.

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Update: Housing Grant Program Announced by City. The City of Philadelphia’s Division of Housing and Community Development (DHCD) supports the City of Philadelphia’s Philly First Home program. This program offers a home buyer assistance grant of up to $10,000 (or 6% of the purchase price, whichever is less) to help first-time home buyers.

PHILADELPHIA (KYW Newsradio) – Philadelphia officials Thursday announced a new program that they say will help hundreds of residents become homeowners and will provide game changing help with down payments. Philly First Home will cover six percent of the purchase price of a new home up to $10,000 for first-time home buyers.

The offer was announced last month alongside other credits Bank of America is providing to first-time and low. percentage of the home’s price. As a result, 3% of borrowers paid over $10,000 in.

Figure Out a House-Buying Budget Once you’ve cleared up. the first time home owner tips listed here, this might be the most important one. 5. Look at Homes in Your Price Range The homes that are.

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A great way for first-time home buyers to jump into homeownership is with down payment and settlement assistance via grant money from their city. Though many cities have these programs, Kirsch says that Philadelphia is especially generous with the amount of money "that continues to pop up" for first-time buyers.

With the Home Possible program, backed by Freddie Mac, you can qualify for a mortgage with as little as 3% down. You needn’t be a first-time home buyer, but your income. you also can withdraw up to.

What is a home-renovation loan? It can help you turn a fixer-upper into your dream home without going into credit-card debt.

Other days, he‘ll spot people lingering sheepishly at the end of the driveway and wave them up to the house. Lockard has.

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